Gold prices rose slightly again in the second half of January. The strategists of the Commerzbank analyze the prospects for the yellow metal.
Gold will not resume its upward trend until the second half of the year
We don't see much more upside potential: After all, Fed Chair Jerome Powell indicated at the Fed's post-meeting press conference that the first rate cuts are likely a long time coming. He considered an interest rate cut unlikely as early as March. The Fed first wants to be sure that inflation will return to the target level on a sustained basis. Weak economic data alone will not be enough.
Investors in the Gold market will have to remain patient.
In this background, We maintain our opinion that the price of Gold will initially maintain a sideways trend and will not resume its upward trend until the second half of the year..
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
